NOON SNAPSHOT – Europe Markets Summary

09 April 2013 12:00[Source: ICIS news]

LONDON (ICIS)--Here is Tuesday’s midday European oil and chemical market summary from ICIS.

CRUDE: May WTI: $93.55/bbl, up 19 cents/bbl. May BRENT: $105.05/bbl, up 39 cents/bblCrude prices found some support from data showing lower Chinese inflation, which should help to support energy demand from the world’s second-largest consumer.

NAPHTHA: $851-854/tonne, up $9/tonne on the low end, up $10/tonne on the high end The cargo range was assessed up from Monday evening on firmer crude oil prices and a higher crack spread. May swaps were assessed at $847-849/tonne.

BENZENE: $1,290-1,310/tonne, up $10-20/tonne April opened firmer this morning, with sentiment buoyed by a deal done at $1,300/tonne as well as stronger global numbers and renewed buying interest in China. May was in contango at $1,295-1,325/tonne.

STYRENE: $1,590-1,625/tonne, wideningThe range for April widened this morning amid uncertainty surrounding market direction. There was a deal done late yesterday at $1,605/tonne. May was offered at $1,635/tonne but there were no corresponding bids.